We’re not even four weeks into New Year 2022, and markets have been a disaster.
Just yesterday, the Dow fell 1,000 points, midday. Then, out of the blue, it closed up about 100. This morning, the Dow was down another 450 points. Even the market’s fear gauge soared to highs we haven’t seen since late 2020. All thanks to potential interest rate hikes, and news Russia could attack Ukraine, destabilizing the region.
Despite the chaos, some stocks have managed to buck the trend, including:
Halliburton (HAL)
Since the year began, shares of HAL ran from about $23 to a high of $29.99. Not only did the company beat earnings, it raised its dividend. For its most recent quarter, the company reported adjusted EPS of 36 cents on sales of $4.3 billion. The Street was looking for 34 cents on sales of $4.1 billion. HAL also raised its dividend from 4.5 cents to 12 cents.
Helping, oil prices are still rising. Last checked, crude was up $1.40 to $84.71.
Kohl’s Corporation (KSS)
Kohl’s exploded on news the company received interest from potential acquirers. In fact, according to The Wall Street Journal, a group backed by Starboard Value offered to buy the retailer for $9 billion, or $64 in cash. In addition, Sycamore Partners reportedly inquired about acquiring the retailer, with an offer of $65 a share.
Per a Kohl’s press release, the company “confirmed that it has received letters expressing interest in acquiring the Company. The Kohl’s Board of Directors will determine the course of action that it believes is in the best interests of the Company and its shareholders. Shareholders are not required to take any action at this time.”
Activision Blizzard (ATVI)
ATVI exploded from a low of $62.50 to a high of $86.90.
All on news Microsoft is buying the company in a $68.7 billion all-cash deal. Not only could this boost Microsoft’s standing in the growing gaming industry, it’ll give the tech giant greater exposure to the metaverse. “Acquiring Activision will help jump start MSFT’s broader gaming endeavors and ultimately its move into the metaverse with gaming the first monetization piece of the metaverse in our opinion,” Wedbush analyst Dan Ives said, as quoted by CNN.
